SALT LAKE CITY, Utah, June 16, 2020 (Gephardt Daily) — Gov. Gary R. Herbert, Senate President J. Stuart Adams and Speaker Brad Wilson have announced updated consensus revenue numbers for the state of Utah.
The numbers were produced in consultation with the Legislative Fiscal Analyst, the Governor’s Office of Management and Budget and the Utah State Tax Commission, said a news release from the Office of the Governor.
The June 2020 consensus revenue numbers for fiscal years 2020 and 2021 show a deficit of $93 million in one-time funding and a deficit of $757 million in ongoing funding in the general and education funds, the news release said.
“We appreciate the work of LFA, GOMB and the Tax Commission for preparing these consensus numbers,” said Herbert. “While the deficit is a result of the economic downturn we’re experiencing due to the health crisis, the budget actions the Legislature will consider during the special session will put Utah in a position to accelerate recovery and quickly return to more prosperous times.”
The Executive Appropriations Committee will consider budget changes to reflect the revised revenue on Wednesday.